The German automaker has depreciated its stake in Chrysler to zero from $268 million at the end of June, the company said Thursday. A little over a year ago, the company valued its 19.9% stake in Chrysler at $2.2 billion.
The announcement came as part of Daimler's quarterly financial release on a day when Consumer Reports scolded the Auburn Hills automaker's quality and Chrysler announced plant cuts that will halt hybrid vehicle production -- all as majority owner Cerberus Capital Management talks with General Motors Corp. about a merger that could result in 30,000 job cuts.

Chrysler indicated Thursday that it had a net loss of $662 million in the second quarter of this year, meaning the automaker and its financing arm, Chrysler Financial, lost more than $1 billion in the first half of the year. The bulk of the $662-million losses -- $572 million -- was attributed to the automotive business.....